https://www.msn.com/en-in/money/news...es/ar-BB1o9WPO
The last renewal of the petrodollar was 50 years ago. Saudis have decided to not renew.
Registered User
Saudi ends petrodollar
https://www.msn.com/en-in/money/news...es/ar-BB1o9WPO
The last renewal of the petrodollar was 50 years ago. Saudis have decided to not renew.
Cocoa $10,000 per tonne.
Registered User
In theory, didn't US ended petrodollar 1st when Russia oil can be had for cheap rubles?
Registered User
Sure, that would be all the under the table oil deals.
But this is big in that all deals, including legal ones will now be a basket of currencies as is most efficient.
$100 used to always buy a barrel, now it may only buy 1/20th a Kim Karadashian event.
Cocoa $10,000 per tonne.
Registered User
As for the ratios:
Pre petrodollar $100 USD would roughly buy 1.2 barrels of oil
Post petrodollar $100 USD will roughly buy 1/11 th of a Taylor Swift concert ticket.
As a military USD 1/11 th of a Taylor Swift ticket will probably not save you in a gunfight, but I've been known to be wrong.
But I will state that the USD still has 25% nickels, which may be its saving grace.
Cocoa $10,000 per tonne.
Posting Permissions
Quote